01/07/2019 Live Update

[Cobra]

members only update at 12:10 pm
http://www.cobrasmarketview.com/2019/01 ... ay-update/

[BullBear52x]

I was going for a third one but I think I rather stop while I am ahead Peace!

[te_fern]

BB52, I need to learn to let my winners run. I sold too early on my Semi position. Which is why my R/R is not very good! Still learning!!

[JFR]

Oops. Hit a wall. Or maybe it was steel slats. Or a big fence. A pause at any rate.

[daytradingES]

"The problem, as former fund manager and FX trader Richard Breslow notes, is that what is left of Fed credibility is rapidly evaporating as the market's machinations are clearly more important to Fed policy-makers than any macroeconomic data dependency they may proffer publicly."
ZH

[brokebybernacke2]

expecting china bumps later today, followed by china short term hopium later tues wed.

[Al_Dente]

“Gandalf”(JPM) is out of favor as he got December quite wrong.
McElligott (Nomura) is still the golden boy… for now...
"this is the exact tactical rally I’ve been anticipating on a run back towards 2600+."
https://www.zerohedge.com/news/2019-01- ... to+zero%29

[BullBear52x]

BB52, I need to learn to let my winners run. I sold too early on my Semi position. Which is why my R/R is not very good! Still learning!!

Here is what I do. not a recommendation just what I do.
1. First entry take two lots entry. (position sizing = one lot)
2. identify Trending or Trading market, once you can identify if the day is trend day or range day it will help next move move.
A. Trending: take profit only on one lot when see fit and let the other one runs until mid BB on 5 min. failed to hold. then close all out.
B. Trading (range) : buy/sell at RSI+BB area in and and out all day long nope, I try to avoid trading on a range day as soon as I can identify a range.

Good luck,

[te_fern]

BB52, I need to learn to let my winners run. I sold too early on my Semi position. Which is why my R/R is not very good! Still learning!!

Here is what I do. not a recommendation just what I do.
1. First entry take two lots entry. (position sizing = one lot)
2. identify Trending or Trading market, once you can identify if the day is trend day or range day it will help next move move.
A. Trending: take profit only on one lot when see fit and let the other one runs until mid BB on 5 min. failed to hold. then close all out.
B. Trading (range) : buy/sell at RSI+BB area in and and out all day long nope, I try to avoid trading on a range day as soon as I can identify a range.

Good luck,

Thank you! I'll have to give it a try!! It's in my head really, so maybe a mechanical system would be better!!

[Trades with cats]

Nothing wrong with over riding a mechanical system, just make sure you document your reason and then do a look back to see who was more correct, you or your system.

[te_fern]

Nothing wrong with over riding a mechanical system, just make sure you document your reason and then do a look back to see who was more correct, you or your system.

Thanks TWC. Yeah, my emotions get involved and sometimes it works short term (over riding), but it definitely doesn't let my winners run.....

[te_fern]

Does anyone have a trading log in Excel that they would share? I would like to try to do a better job of tracking my trades in the new year!! Thanks in advance!

[Trades with cats]

This 6,000 tick chart is approaching a 5 minute bar spacing. I have overlayed the highs and lows of a 2,000 tick chart for my amusement. I have a function running that colors the area between the EMA and the closing price. It is set to trigger a crossover on a thrust bar.

The red line is a short stop and the green line is a long stop. It is the Chande Kroll stop. Stockcharts has the very similar chandiler stop that can look similar if you set up a second negative one (to keep two lines on the screen). It is set for an EMA of 10 ATRs using Wells Wilders formula with a 2.5 ATR set back from price and a 10 bar look back for the appropriate high or low to hang from. Hanging from the 10 bar look back shows up very clearly in comparison to the two Keltner channels at 1.6 atrs and 2.6 atrs. To me this is a very effective stop loss system for a trending market. It was Chuck LeBow who popularized this method many years ago.

[Trades with cats]

The best trading log is Tom Dante's trading devils score sheet. You just keep track of your mistakes and when you hit the point total for the day you have to stop. It is in his free tool kit. Don't read his comments if you do not care for English soccer hooligan obscenities.
https://www.trader-dante.com/educational.html

[QED]

.
@Cobra, regarding your public chart: 0.5.1 Real Time NYSE McClellan Oscillator ...

How are you using this chart to calculate real time $NYMO, since $NYMO is on a different scale?
Maybe you could give a short explanation. Thanks!

.

[daytradingES]

Does anyone have a trading log in Excel that they would share? I would like to try to do a better job of tracking my trades in the new year!! Thanks in advance!

I don't have one, but I'll dig one up for you..

[te_fern]

Does anyone have a trading log in Excel that they would share? I would like to try to do a better job of tracking my trades in the new year!! Thanks in advance!

I don't have one, but I'll dig one up for you..

Thanks dtES. You should probably start using one too! And with your programming skills you could modify one for us! I'm going to check out the one TWCats recommended too!

[te_fern]

The best trading log is Tom Dante's trading devils score sheet. You just keep track of your mistakes and when you hit the point total for the day you have to stop. It is in his free tool kit. Don't read his comments if you do not care for English soccer hooligan obscenities.
https://www.trader-dante.com/educational.html

thanks!! I'll take a look!

[Trades with cats]

Follow up showing the stop loss triggered. Lots of warning signals on this one. lower trend line violated, then it failed to bounce on the EMA and then out goes the stop level.

[Trades with cats]

If you keep a log (I do) you really need to decide what you want it to do or you could end up with a solution in search of a problem.